US EditionNews Wrap: U.S. Eases Sanctions on Venezuela's State-Owned Oil Company
- The U.S. Treasury has authorized Petróleos de Venezuela S.A. to sell Venezuelan oil directly to U.S. companies and global markets, reversing previous restrictions on the oil sector.
- President Donald Trump waived the Jones Act for 60 days, allowing goods to be shipped between U.S. ports on non-U.S.-flagged vessels to reduce shipping costs.
- U.S. drivers face the highest gas prices in about two and a half years, with the national average for regular gasoline reaching $3.84 per gallon on Wednesday.
- The National Retail Federation forecasts retail sales to grow 4.4% to $5.6 trillion, while noting uncertainty regarding the impact of the Iran war on consumer spending.
11 Articles
11 Articles
Ticker: US eases Venezuela oil sanctions; Retailers forecast 4.4% sales gain
U.S. companies will be allowed to do business with Venezuela's state-owned oil and gas company after the Treasury Department eased sanctions on Wednesday as the Trump administration looks for ways to boost global oil supplies during the Iran war.
News Wrap: U.S. eases sanctions on Venezuela's state-owned oil company
In our news wrap Wednesday, the U.S. is easing sanctions on Venezuela's state-owned oil company as it tries to tame the rise in oil prices brought on by the Iran war, the Federal Reserve expects to cut rates just once this year after leaving rates unchanged for a second-straight meeting and Pakistan and Afghanistan announced a temporary pause in cross-border fighting.
WASHINGTON (AP) — U.S. companies will be able to do business with the Venezuelan state oil and gas company after the Treasury Department relaxed sanctions on Wednesday, with limitations, while President Donald Trump’s government is looking for ways to increase the global supply of crude oil during the war with Iran. The Treasury issued a broad authorization that allows Venezuela’s Oils S.A. (PDVSA) to sell Venezuelan oil directly to U.S. compani…
US Treasury Eases Venezuela Oil Sanctions as Oil Supply Tightens During Iran War
The U.S. Department of Treasury on Wednesday said it eased sanctions on Venezuela’s state-owned oil and gas company and will now allow U.S. companies to do business with the firm amid tightening oil supplies during the Iran war. In a notice published by the Treasury’s Office of Foreign Assets Control, it stipulated that U.S. companies can now do business with state-run Petroleos de Venezuela, S.A., or any entity that the company owns. The move a…
The Iran war is cutting crude oil supply on the world market and driving prices. The USA is relying on the country with the world's largest oil reserves.
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